Elliott waves analysis – We are long.


Wave Analysis:

The price has been trading within the upper and the lower trendline for a while, recently the price bounced off from the upper trendline at the impulsive wave cycle three towards the lower side at the corrective wave cycle four. Right now the price is on the lower trendline I expect a rebound towards the upper side around 1.2175 in continuation of the impulsive wave cycle five. If you are currently looking at this pair, pick a buy from 1.2123 towards 1.2175.

Trade Recommendations:

We are long.

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